Latest news with #SoulPatts
The Australian
6 days ago
- Business
- The Australian
ASX 200 live: Lynas. Iluka rise; TPG's big cash return; CBA flags $130m in provisions
Updated less than a minute ago The Australian Business Network Welcome to the Trading Day blog for Tuesday, August 5. The ASX 200 index is 1 per cent higher at 8747 points at 10.45am AEST with all sectors in the green. On Wall Street, the three major indexes enjoyed their biggest daily gains since May. The Dow Jones index rose 1.3 per cent, snapping a five-session losing streak. The technology-focused Nasdaq index rose 2 per cent, while the S&P 500 climbed 1.5 per cent. Cryptocurrency giant bitcoin is just under $US114,900. The Aussie dollar is trading around US64.74c. Canberra flags rare earths price floor to counter China Trading Day Independent valuations underpin Soul Patts-Brickworks merger support. Endeavour chair quits over 'disagreements'. Billionaire Lederer's play for Elanor. BlueScope leads Whyalla Steelworks bid. Trading Day Australia gets baseline 10 per cent US reciprocal tariff. ResMed beats earnings forecasts. Major companies brace as pandora's box on tax reform opens. Clock ticks for Star on $41m payout to HK partners, debt deal and costs after failed talks.
AU Financial Review
27-07-2025
- Business
- AU Financial Review
Soul Patts invests in big battery developer North Harbour
Soul Patts is boosting its exposure to energy storage with an investment in Grant King-chaired North Harbour Clean Energy, providing about $40 million of capital to take the outfit through to financial close on its first two battery projects. The diversified investor will take about a one-third stake in the group, joining superannuation funds such as Australian Retirement Trust and King himself in backing North Harbour's strategy to build a portfolio of long-lasting storage capacity that it expects will become an increasingly important part of the energy supply mix to support renewables.
Sky News AU
02-06-2025
- Business
- Sky News AU
'Great undersupply' of housing in Brickworks CEO Mark Ellenor's sights after $14b merger with investment firm Soul Patts
The chief executive of Australian brickmaker Brickworks plans to capitalise on the 'great undersupply of housing' facing the country after recently revealing a $14b merger. Brickworks revealed a historic merger with investment firm Soul Patts on Monday, causing the share prices of the companies to rise 27.6 per cent and 16.4 per cent respectively. The merger undoes an arrangement from 1969 where each company owned large portions of one another's stock to defend from takeover bids. Both CEOs appeared on Sky News' Business Now, where Brickworks boss Mark Ellenor said the company was seeing 'some green shoots' in the construction sector and local economy, but noted there was more work needed to ignite growth. 'We've had an easing of inflation, unemployment numbers have moderated and we're seeing some growth,' Mr Ellenor said. 'We're definitely still at the bottom of the cycle.' He said two recent cash rate cuts from the Reserve Bank of Australia since the beginning of this year had led to some increased demand in Queensland, South Australia and Western Australia, but more populous states were lagging behind. '(In) our two core states of New South Wales and Victoria we've not seen that uplift as yet, but there's just a great undersupply of housing in this country,' Mr Ellenor said. 'We've underbuilt homes for the last four years and Brickworks (is) very well placed to take advantage of the upturn when it does come next year.' Soul Patts CEO Todd Barlow said he was confident about Australia's future, but noted some concerns about strains on the economy. 'We're not seeing any real signs of distress or emerging difficulties, but we're multi-years into a market that has not really generated increasing earnings across the whole market, yet we're seeing higher prices,' Mr Barlow said. 'That concerns us a little bit, but generally I don't see any major issues on the horizon for the economy. "We're hopefully positioning ourselves for some better opportunities ahead.' The Brickworks boss' comments come as dwelling approvals fell 5.7 per cent in April, according to the Australian Bureau of Statistics. The overall decline in April was driven by lower apartment approvals, per the ABS' head of construction statistics Daniel Rossi. 'A drop in apartment approvals drove a 19 per cent fall in private dwellings excluding houses,' Mr Rossi said. 'Meanwhile, private sector house approvals were up 3.1 per cent.' This followed a 14.4 per cent drop in March as apartment approval rates sunk compared to the start of the year. 'In original terms, 5,612 apartments were approved across March and April, compared with 8,625 approved across January and February,' the ABS said. The RBA's second cash rate cut of 2025 is expected to further the turnaround in house price growth after it slowed in 2024. Originally published as 'Great undersupply' of housing in Brickworks CEO Mark Ellenor's sights after $14b merger with investment firm Soul Patts
News.com.au
02-06-2025
- Business
- News.com.au
Soul Patts and Brickworks agree to $14b merger
Diversified investment house Soul Patts is merging with its long-term corporate partner the industrials company Brickworks. The two businesses have had a unique cross-shareholding structure since 1969, with Soul Patts owning 43 per cent of Brickworks and Brickworks owning 26 per cent of Soul Patts. The merged business will be chaired by Robert Millner, the fourth member of the Millner family to run Soul Patts.
AU Financial Review
02-06-2025
- Business
- AU Financial Review
Bricks-and-mortar ASX plays dwindle after Soul Patts' Brickworks deal
Australia is set for a surge in home-building in coming years, says former Brickworks managing director Lindsay Partridge. However, investors lack options to gain exposure to the sector, with five large building materials companies having disappeared, or set to disappear, from the ASX boards. Brickworks, the country's largest brickmaking group, has been a fixture on the ASX since listing 1962 but will soon depart the exchange after being swallowed up by investment group Soul Patts in a $14 billion merger announced on Monday.
